In the year to 31st December 2024 Murphy Group made a pre-tax profit of 拢83.9m, up 26% on the previous year. (2023: 拢66.8m). Revenue dipped 2% to 拢1,398m due to a combination of continued contract selectivity and the timing of project completions in Canada.
Operating profit was up 11% to 拢79.6 million and there was a 15% rise in net cash to 拢400.5m.
Murphy鈥檚 operating margin in 2023 was already at 5.2%, which is unusually high for UK construction contracting. In 2024 it improved to 6.3%.
The board said that the results 鈥渦nderline the strength of Murphy鈥檚 diversified business model across the UK, Ireland and North America鈥�.
With a record 拢5.4 billion order book and strong momentum into 2025, Murphy is confident in its long-term growth outlook, supported by strategic international expansion and infrastructure investment across its core markets.
Chief executive John Murphy said: "I鈥檓 pleased to share that we鈥檝e delivered another strong year of growth, marked by consistent year-on-year improvements in both our financial results and operational performance, while remaining firmly committed to delivering world-class infrastructure. These achievements reflect the dedication and capability of our people, our continued emphasis on sustainable business practices, and the strength of our customer relationships.
鈥淭hroughout 2024, we successfully navigated economic pressures, changes in government policy and inflationary pressures, demonstrating the Group鈥檚 resilience. The sector's significant investments in transportation, water and energy infrastructure, underpins our confidence in the future with Murphy well-positioned to capitalise on the opportunities these investments bring.
"As we look ahead to our 75th anniversary in 2026, our 鈥楳urphy at 75鈥� vision, to be the leading family-owned construction business in the regions where we operate, is firmly within sight. Our primary focus remains on achieving long-term, sustainable growth, built on our ability to deliver reliable, high-quality outcomes for our customers and to leave a positive, lasting impact through our work and in the communities we support."
Murphy鈥檚 UK project highlights in 2024 included:
- completing civil works at Oswestry Water Treatment Works for United Utilities
- completing tunnelling activities on London Power Tunnels 2 as part of the Hochtief Murphy joint venture for National Grid.
- building new railways stations at Beaulieu and Cambridge for Network Rail.
- making progress on the Twinstead Green grid supply point for National Grid, including installation of the first super grid transformer.
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